2021-01-17

For instance, in Delhi, the base price for a litre of petrol was Rs 29.34 as of February 1, 2021. Oil marketing companies charge the dealer Rs 29.71 a litre. At this point, the Centre levies Rs 32.98 as excise duty. Dealers add their commission of Rs 3.69, followed by the state’s VAT or sales tax of Rs 19.92.

2020-05-05 · With this, the total incidence of excise duty on petrol has risen to ₹32.98 per litre and that on diesel to ₹31.83. In all, duty on petrol rate was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre in those 15 months that helped government''s excise mop up more than double to Rs 2,42,000 crore in The government had raised excise duty in March when crude oil prices were down. The excise duty on petrol was raised to Rs 32.98 per litre from Rs 19.98 and diesel to Rs 31.83 per litre from Rs 15.83. Here is how much tax you pay on petrol and diesel in India 2 min read.

Excise duty on petrol in india

Worth to mention that tax on petrol was Rs 9.48 per litre and on diesel, it was Rs3.56 a litre when the Modi government Excise duty on petrol and diesel was on Saturday hiked by ₹3 per litre as the government looked to mop up gains arising from fall in international oil prices.Special excise duty on petrol was 2020-04-30 · This means excise duty, technically, does not exist in India except on a few items such as liquor and petroleum. The information given below pertains to the functioning of Excise Duty in India before the implementation of GST regime. Excise Duty Collection Jumps 48% This Fiscal on Record Hike in Taxes on Petrol, Diesel. Excise duty collection during April-November 2020 was at Rs 1,96,342 crore, up from Rs 1,32,899 crore mop-up 1 dag sedan · At a time when petrol and diesel rates remain at a record high, the CBIC Chairman M Ajit Kumar has assured that excise duty rates will be cut. While Kumar did not give a timeline, he said the excise duty on petrol and diesel will be cut when the time is right. The latest revision of excise duty was on 06 May’2020 when the Central Government announced another major hike in the Central excise duty with an increase of ₹ 10 on petrol and ₹13 on diesel. As on date, the excise duty on Petrol is ₹ 32.98, while it is ₹ 31.83 in the case of diesel.

Feb 19, 2021 In fact, the Centre took the decision to raise the excise duty on petrol (Rs 13 per litre) and diesel (Rs 15 per litre) in two instalments in March

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It again raised excise duty on March 2020, by Rs Excise Duty on Petrol: Rs 9.20 per Litre: Rs 21.48 per Litre: Rs 32.9 per Litre (incl. Road Cess) Excise Duty on Diesel: Rs 3.46 per Litre: Rs 17.33 per Litre: Rs 31.8 per Litre (incl. Road Cess) VAT on Basic Price on Petrol: 20% on Basic Price: 27% on Basic Price: 30% VAT: VAT on Basic Price on Diesel: 12.5% on Basic Price: 16.75% on Diesel + 25p Cess 2020-07-15 2021-02-24 2020-03-14 The latest revision of excise duty was on 06 May’2020 when the Central Government announced another major hike in the Central excise duty with an increase of ₹ 10 on petrol and ₹13 on diesel. As on date, the excise duty on Petrol is ₹ 32.98, while it is ₹ 31.83 in the case of diesel. 2021-02-01 Dharmendra Pradhan on Wednesday ruled out any cut in excise duty. His remark came on a day the price of petrol rose to an all-time high of .87.60 a litre in Delhi.

So far, the government has increased excise many times. Last year, the central government increased excise duty on petrol by Rs 13 per litre, taking it to Rs 32.90 per litre, or 36 per cent of Rs 90.56 per litre retail price in Delhi. Excise duty was raised by Rs 13 and Rs 16 per litre on petrol and diesel between March 2020 and May 2020 and now stands at Rs 31.8 on diesel and Rs 32.9 per litre on petrol. The increase in excise 2021-03-03 · Excise duty was raised by Rs 13 and Rs 16 per litre on petrol and diesel between March 2020 and May 2020, and now stands at Rs 31.8 on diesel and Rs 32.9 per litre on petrol.
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Road Cess) VAT on Basic Price on Petrol: 20% on Basic Price: 27% on Basic Price: 30% VAT: VAT on Basic Price on Diesel: 12.5% on Basic Price: 16.75% on Diesel + 25p Cess 2020-05-06 · With this, the total incidence of excise duty on petrol has risen to Rs 32.98 per litre and that on diesel to Rs 31.83.

According to Indian Oil, the retail selling price of petrol on February 16 was Rs 89.29. Out of this, a whopping Rs 53.51 is because of VAT (value-added tax) and excise duty.
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Road cess on petrol was also raised by Rs 1 A government notification said that the special excise duty on petrol was hiked by Rs 2 per litre to Rs 10 per litre and to Rs 4 per litre for diesel. Road cess on both petrol and diesel has also been increased by Re 1 per litre to Rs 10 per litre, the notification added.

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As of now, a basic excise duty (BED) of Rs 2.98 per litre is levied on petrol, and another Rs 12 a litre is charged as special additional excise duty (SAED) and Rs 18 as road and infrastructure

Due to higher excise duty on fuel, petrol prices have reached Rs 100 per liter in many cities of India. So far, the government has increased excise many times. Last year, the central government increased excise duty on petrol by Rs 13 per litre, taking it to Rs 32.90 per litre, or 36 per cent of Rs 90.56 per litre retail price in Delhi. Excise duty was raised by Rs 13 and Rs 16 per litre on petrol and diesel between March 2020 and May 2020 and now stands at Rs 31.8 on diesel and Rs 32.9 per litre on petrol. The increase in excise 2021-03-03 · Excise duty was raised by Rs 13 and Rs 16 per litre on petrol and diesel between March 2020 and May 2020, and now stands at Rs 31.8 on diesel and Rs 32.9 per litre on petrol.